On the transfer of a building society mortgage the mortgagor should be a party, as it is doubtful whether the transferee can exercise the express power of sale which is usually contained in such a mortgage1, for he is not in the same position as the society in regard generally to the exercise of the society's powers as mortgagee2. The necessity for joining the mortgagor is avoided if the mortgage makes provision for transfer3. If, however, the loan is made by a mortgagee acting for purposes of his business to a consumer, a term which gives the mortgagee the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234